175 Lake Susan Ln · West Palm Beach, FL 33411

$219,990

2 bd · 2.0 ba · 1,009 sqft · Condo public records · 3 Days on market

Built 1985 $703/mo HOA · 35% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.6/30.0
• Schools +4.3/10.0
• 1% rule +4.1/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.1/10.0

Listing remarks MLS

SPACIOUS END VILLA, PARKING RIGHT IN FRONT, A QUICK WALK TO LAKE SUSAN POOL. LARGE GLASS ENCLOSED PATIO W/ BEAUTIFUL WATER VIEW !! PATIO HAS TWO UTILITY CLOSETS , ONE WITH WASHER & DRYER. LOTS OF STORAGE. ACCORDION SHUTTERS ON ALL WINDOWS & PATIO. NICELY LANDSCAPED FRONT & BACK. LOTS OF AMENITIES IN THIS GUARD GATED COMMUNITY . LOCATED CLOSE TO SHOPPING, RESTAURANTS, & TURNPIKE ! AIRPORT & OCEAN A SHORT DRIVE AWAY ! PARADISE AWAITS !!

Key facts

• Bright white kitchen
• Enclosed sunroom
• Scenic water access

Tags

• WATERFRONT PROPERTY
• SCENIC WATER ACCESS
• MAINTENANCE-FREE RESORT LIVING
• OPEN LIVING AND DINING AREA
• BRIGHT WHITE KITCHEN
• ENCLOSED SUNROOM

Property features AI

Finance

• Financial info: Community contains 1,888 units; Senior community
• HOA & community: Has association with monthly fee; Association amenities include pool, fitness center, clubhouse, tennis courts, bocce ball, billiard room, community room, cafe/restaurant, library, courtesy bus, on-site manager/management and parking; Association fee includes cable TV, insurance, grounds maintenance, pest control, security, sewer, water and common areas; Pets allowed with breed and size restrictions

Exterior

• Parking: Assigned open parking (1 space total)
• Security: Gated community with security guard and security patrol; Gated (no guard); Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Villa (single-story) with entry-level living area; Faces east
• Construction: Stucco and CBS construction; Mixed and tile roof; Built as resale property
• Exterior features: Covered patio; Screened patio; Screened porch; Patio; Porch; Glass-enclosed porch; Sidewalks; Paved road frontage; Waterfront

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closets; Single-hung metal and sliding windows; Furnished negotiable
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $-456 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (36.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (9.3% below list).
• Recommended offer: $140k (36.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Benoist Farms Elementary School (math 22% / reading 28%, grade F, #2,030 of 2,144 statewide, top 95%, 421 students, 80% FRL); Jeaga Middle School (math 18% / reading 30%, grade F, #532 of 571 statewide, top 94%, 941 students, 78% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 574 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,520 (36.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 3.81%
• Cash-on-cash: -8.87%
• DSCR: 0.61
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 17.3%
• Equity multiple: 2.41×
• Total profit: $86,919
• Equity at exit: $198,184

10-year hold

• IRR: 15.9%
• Equity multiple: 5.41×
• Total profit: $271,620
• Equity at exit: $427,392

Cash invested: $61,597 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,995 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$92
• HOA: −$703
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-456

Break-even live

Break-even rent $2,572

Max offer price $139,520

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $54,998
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Golden Lakes Blvd #813 West Palm Beach, FL	3.0	2.0	999	$2,050	$2.05	24d	1	0.12mi
1133 Golden Lakes Blvd #813 West Palm Beach, FL	3.0	2.0	1054	$1,950	$1.85	5d	1	0.12mi
1133 Golden Lakes Blvd #813 West Palm Beach, FL	3.0	2.0	999	$2,050	$2.05	3d	1	0.12mi
1103 Golden Lakes Blvd #1013 West Palm Beach, FL	3.0	2.0	999	$2,000	$2.00	3d	1	0.13mi
1103 Golden Lakes Blvd #1011 West Palm Beach, FL	3.0	2.0	999	$2,100	$2.10	24d	1	0.13mi
1063 Golden Lakes Blvd #322 West Palm Beach, FL	3.0	2.0	999	$2,000	$2.00	14d	1	0.14mi
1139 Lake Terry Dr Unit A West Palm Beach, FL	3.0	2.0	918	$2,300	$2.51	20d	1	0.18mi
959 Lake Terry Dr West Palm Beach, FL	3.0	2.0	900	$2,000	$2.22	24d	1	0.19mi
1020 Lake Victoria Dr Unit B West Palm Beach, FL	3.0	2.0	922	$2,200	$2.39	17d	1	0.19mi
108 Lake Nancy Dr West Palm Beach, FL	2.0	2.0	967	$1,800	$1.86	24d	1	0.27mi
221 Lake Meryl Dr West Palm Beach, FL	2.0	2.0	1000	$1,550	$1.55	24d	1	0.28mi
125 Lake Nancy Dr #241 West Palm Beach, FL	2.0	2.0	1193	$1,900	$1.59	11d	1	0.28mi
1153 Lake Victoria Dr Royal Palm Beach, FL	2.0	1.0	708	$1,725	$2.44	24d	1	0.29mi
1080 N Benoist Farms Rd #204 West Palm Beach, FL	2.0	1.0	708	$1,500	$2.12	17d	1	0.33mi
1068 N Benoist Farms Rd #205 West Palm Beach, FL	2.0	1.0	708	$1,800	$2.54	24d	1	0.35mi
1101 N Benoist Farms Rd #106 West Palm Beach, FL	2.0	1.0	708	$1,700	$2.40	24d	1	0.35mi
1081 N Benoist Farms Rd West Palm Beach, FL	3.0	2.0	900	$1,910	$2.12	1d	2	0.38mi
1081 N Benoist Farms Rd West Palm Beach, FL	3.0	2.0	900	$1,897	$2.11	17d	1	0.38mi
1477 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	928	$1,975	$2.13	17d	1	0.39mi
1215 N Benoist Farms Rd #203 West Palm Beach, FL	2.0	1.0	708	$1,750	$2.47	24d	1	0.40mi
1465 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	2d	1	0.42mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	15d	1	0.47mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	14d	1	0.47mi
1453 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	14d	1	0.48mi
1525 Lake Crystal Dr Unit C West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	7d	1	0.48mi
1440 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	4d	1	0.48mi
138 Lake Frances Dr West Palm Beach, FL	2.0	2.0	812	$1,845	$2.27	24d	1	0.49mi
1421 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,975	$2.18	15d	1	0.51mi
1421 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,975	$2.18	24d	1	0.51mi
161 Lake Frances Dr Unit 161 West Palm Beach, FL	1.0	1.5	704	$1,430	$2.03	7d	1	0.52mi
1545 Lake Crystal Dr Unit D West Palm Beach, FL	1.0	1.0	700	$1,675	$2.39	14d	1	0.52mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	24d	1	0.52mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	7d	1	0.52mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	24d	1	0.53mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	22d	1	0.53mi
1461 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	7d	1	0.53mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,950	$2.17	24d	1	0.55mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	14d	1	0.55mi
1540 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	18d	1	0.55mi
1564 Lake Crystal Dr Unit F West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	17d	1	0.58mi

HOA detail condo

• Monthly dues: $703 · $8,436/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-18
   days on market $219,990 Active 3 DOM
2. 2026-06-17
   days on market $219,990 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $219,990 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $998 · $83/mo
• Projected year-2 tax: $1,826 · $152/mo
• Expected delta: +$828/yr (+$69/mo · 82.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,939
• − Mortgage interest: −$12,323
• − Property taxes: −$998
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − HOA: −$8,436
• − Depreciation: −$6,400
• Taxable loss: −$9,148
• Est. tax savings @ 24.0%: +$2,196
• After-tax cash flow: $-3,271/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Palm Beach
• NCES district ID: 1201500
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $53,943
• Composite: 42.72/100
• National rank: #3160
• State rank: #34 of 73 in FL

Livability — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

Amenities A- Commute A+ Cost of living B- Crime F Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

Population outlook (Palm Beach County) Hauer SSP2

• Today (2025): 1,637,487 people
• By 2030: 1,743,255 · +6.5%
• By 2040: 1,948,712 · +19.0%
• By 2050: 2,132,979 · +30.3%
• By 2075: 2,530,027 · +54.5%
• By 2100: 2,706,979 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% Other Indo-European 2%

Political lean MEDSL · Palm Beach

• 2024 margin: Toss-up / Even · D 50.0% · R 49.2%
• 2008→2024 swing: -22.1pp toward R · 2008: 22.9pp · 2024: 0.8pp
• All cycles: 2024: D+0.8 2020: D+12.8 2016: D+15.3 2012: D+17.0 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+150.0% since first listed

8 events — show timeline

• 2026-06-15 Listed $219,990 Beaches MLS
• 2022-11-18 Sold (Public Records) $220,000 Public Records
• 2022-11-09 Sold (MLS) $220,000 Beaches MLS
• 2022-10-08 Pending — Beaches MLS
• 2022-10-04 Listed $225,000 Beaches MLS
• 2010-07-12 Sold (Public Records) $73,500 Public Records
• 2004-01-21 Sold (Public Records) $86,000 Public Records
• 2003-11-19 Sold (Public Records) $88,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $998 · +4.1% YoY. Source: county tax records.